THE Australian share market looks set to open comfortably higher after Wall Street creeps up amid continued optimism over US tax reform which is seen as cutting corporate taxes. At 0700 AEDT on Thursday, the share price futures index was up 22 points, or 0.37 per cent, at 5,973.

Meanwhile, the Australian dollar has continued its slide against a stronger US counterpart. The local currency was trading at 75.63 US cents at 0700 AEDT on Thursday, from 75.84 on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON — US unit labour costs were much weaker than initially thought, declining both in the second and third quarters of this year.

LONDON — Provisional findings into Rupert Murdoch’s planned takeover of Sky will be published next month, later than expected, Great Britain’s competition regulator has announced.

LONDON — Beer is the best alcoholic drink to convert into fuel and could be key to developing a sustainable alternative to petrol, scientists have found.

WEDNESDAY HIGHLIGHTS:

GDP — Australia’s economy has expanded at a slower than expected rate in the three months to September, with the weakest consumer spending in nearly 10 years dragging on growth.

TPG — TPG Telecom has been hit with a first strike over executive pay as its smaller shareholders lodged a protest vote.

ACCC VOLTAREN — The consumer watchdog is taking two pharmaceutical companies to Federal Court over allegations they falsely claimed a painkilling product was capable of targeting specific conditions.

AMAZON — Amazon claims its Australian online store’s launch was its biggest ever international opening with tens of thousands of shoppers visiting the site in one day.

WOMEN BOARDS — A target of 30 per cent female representation on company boards in Australia by the end of 2018 could be slipping out of reach.

CONSUMER TRUST — Consumers don’t trust companies with their personal information and many think technology that knows when their fridge needs refilling is creepy, a study has found.

INCITEC PIVOT — Incitec Pivot has warned that its 2020 and 2021 full-year profits will be hit by the end of a contract to supply ammonium nitrate prill to mining giant BHP Billiton.

SLATER GORDON — Slater and Gordon shareholders have voted in favour of a recapitalisation plan that hands control of the law firm to its lenders and sets the stage for a boardroom clean-out by December.

TEGEL — Shares in New Zealand’s largest chicken producer have tumbled after its profit fell due to lower exports to Australia and rising costs.